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Wesfarmers talks to Malaysia over Lynas

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Original article by Paul Garvey
The Australian – Page: 17 & 20 : 28-Mar-19

Rare earths miner Lynas Corporation has rejected an unsolicited $1.5bn takeover bid from Wesfarmers. Lynas CEO Amanda Lacaze has also criticised Wesfarmers’ move to engage directly with the Malaysian government regarding Lynas’s processing plant in Kuantan, stating that the conglomerate cannot speak on behalf of the company. Meanwhile, stockbroking firm Morgans has cited factors such as the political risk in Malaysia for its decision to downgrade its recommendation on Wesfarmers shares from ‘add’ to ‘hold’.

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, WESFARMERS LIMITED – ASX WES, MORGANS FINANCIAL LIMITED, GREENCAPE CAPITAL PTY LTD, CHALLENGER LIMITED – ASX CGF, CITIGROUP PTY LTD

New public interest test just one part of Greens’ wide-ranging media reforms

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Original article by Samantha Maiden
The New Daily – Page: Online : 26-Mar-19

The Greens want to encourage public interest journalism by extending tax breaks for news media subscriptions. Its plans are part of a media reform package that would also involve a clampdown on false news on social media and the possible breakup of media companies such as News Corporation. Greens senator Sarah Hanson-Young says regulators should be given stronger powers so that they can penalise broadcasters that provide proponents of hate speech a platform for their views.

CORPORATES
AUSTRALIAN GREENS, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED, SKY NEWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. PRODUCTIVITY COMMISSION

Retailers at risk as consumers tighten belts

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Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 25-Mar-19

Insolvency firm SV Partners has stated that 916 Australian retail outlets are at "high to severe risk of collapse" in the next 12 months. Its forecast is based on data from credit bureaus and providers. An online retailer with turnover of more than $1 billion is one of the businesses that are considered to be under threat. Deloitte Access Economics has stated that retail sales growth will fall to 1.6 per cent in 2019 as consumers curtail their spending; well-known retailers to have failed in recent months include Roger David and Shoes of Prey.

CORPORATES
SV PARTNERS PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, ROGER DAVID STORES PTY LTD, SHOES OF PREY PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, ED HARRY MENSWEAR, NAPOLEON PERDIS COSMETICS PTY LTD, BEDS ‘R’ US PTY LTD

Myer cuts another 50 jobs as sales fall

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 22-Mar-19

Myer Holdings has stressed that customer-facing staff will not be affected by the department store group’s latest job cuts. CEO John King has advised that 50 employees will be retrenched, primarily in store administration, marketing and merchandising roles. Myer is expected to shed further jobs when it begins reducing the amount of space it leases in some of its stores. Myer retrenched 30 executives and managers in August 2018, shortly after King took the helm.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, HOUSE OF FRASER HOLDINGS PLC, TOURISM AUSTRALIA PTY LTD, J WALTER THOMPSON AUSTRALIA PTY LTD, OGILVY AUSTRALIA

Furious PM’s office threatens Ten over Waleed Aly’s emotional Christchurch plea

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Original article by Samantha Maiden
The New Daily – Page: Online : 19-Mar-19

Sources at the Ten Network have confirmed that the office of Prime Minister Scott Morrison has complained about comments made by Waleed Aly on ‘The Project’ in the wake of the Christchurch mosque attacks. Aly did not mention Morrison by name in his editorial, in which he said a member of the Coalition’s shadow cabinet in 2010 suggested that the party should capitalise on anti-Muslim sentiment in the community. Aly then said the unnamed person is now Australia’s "most senior politician", a comment which prompted Morrison’s office to warn of the potential for defamation action.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TEN NETWORK HOLDINGS LIMITED

Foxtel steps up incentives to retain premium customers

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Original article by Max Mason
The Australian Financial Review – Page: 34 : 18-Mar-19

Foxtel is offering selected customers in Queensland a free upgrade to the iQ4 set-top box, which provides access to 4K content. The offer can be redeemed at Harvey Norman stores or by calling Foxtel, and it is expected to be extended to customers in other regions. Meanwhile, some Foxtel subscribers are being offered 12 months’ free access to its movies package, which usually costs $20 per month. The initiatives are part of a strategy to target premium subscribers, who might otherwise opt to scale back their package in favour of Foxtel’s Kayo Sports streaming service.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS, NEWS CORPORATION – ASX NWS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

As decision looms, BHP’s potash passion play fades – for now

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Original article by James Thomson
The Australian Financial Review – Page: 17 & 22 : 18-Mar-19

It is estimated that commencing production at BHP’s Jansen potash project in Canada will require a capital investment of about $US5bn ($7bn). BHP has yet to make a firm commitment to the project, and observers say the resources group cannot continue to postpone a decision indefinitely. On one hand, potash is likely to be a boom commodity in coming years as demand for agricultural crops in regions such as Asia grows. However, the Jansen project will deliver relatively low returns for BHP investors, while global supply of potash is increasing.

CORPORATES
BHP GROUP LIMITED – ASX BHP, POTASH CORPORATION OF SASKATCHEWAN INCORPORATED

Ten pins hopes on Rugby World Cup

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Original article by Zoe Samios
The Australian – Page: Online : 11-Mar-19

Network Ten has secured the free-to-air and digital rights to the 2019 Rugby World Cup, which will be held in Japan from 20 September to 2 November. The final will be held on the same day as Derby Day during the Melbourne Cup carnival. Ten CEO Paul Anderson says the Rugby World Cup will be the biggest sporting event in the world in 2019, while he has declined to state how much Ten paid for the rights. Ten’s deal gives it the rights to 10 World Cup matches across linear television and broadcast video on demand, including all games featuring Australia

CORPORATES
TEN NETWORK HOLDINGS LIMITED, FOXTEL MANAGEMENT PTY LTD

Jones saga puts heat on Macquarie

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Original article by Zoe Samios, Nick Tabakoff
The Australian – Page: Online : 11-Mar-19

Macquarie Media has refused to comment on its negotiations with Alan Jones over a new contract for the radio broadcaster, as has Jones himself. Jones has had 216 consecutive rating wins for his broadcasting spot, while his radio station 2GB won survey eight of Sydney’s 2018 ratings surveys with a 14.1 per cent audience share. Not being able to re-sign Jones would mean reduced advertising revenue for Macquarie Media, as well as more angst for Macquarie Media’s parent company Nine Entertainment, following the axing of Karl Stefanovic from ‘Today’ in 2018.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED

Reprieve for Myer as profits rise

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Original article by Eli Greenblat
The Australian – Page: 17 & 27 : 7-Mar-19

Department store group Myer Holdings has posted a 2018-19 interim profit of $38.4m, compared with a writedown-marred loss of $476m for the previous corresponding period. Myer’s underlying profit was up 3.1 per cent at $41.3m, but sales fell by 2.8 per cent to $1.67bn. CEO John King says Myer will continue to sale overseas fashion brands, but it will seek to increase its in-house brands’ share of group sales from 17.5 per cent to 20 per cent.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED